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CA08 14aug16
CA08 14aug16
Presents
Ponzi schemes are banned under the Prize Chit and Money Circulation
(Banning) Act, 1978 and the State government concerned is the enforcement
agency. Though it is a Central Act, the respective State governments are the
enforcement agency of this law.
The scheme is named after Charles Ponzi, who became notorious for using the
technique in 1920. The idea, present in novels was actually performed in real
life by Ponzi who with his operation took in so much money that it was the first
to become known throughout the United States.
Though this is only a projection and not timebound as none of these projects
are underway and costs could be dramatically revised its roughly four per
cent of Indias economy, now valued at Rs 1,35,00,000 crore, and significantly
more than what India spends on either scientific research, the social sector or
defence.
Could be revised
The National Water Development Agency the central agency that plans and
prepares cost estimates for such projects has so far identified 16 peninsular
rivers and 14 Himalayan rivers that could potentially be linked to transfer water.
ILR projects at the most advanced state of planning are those involving building
canals and storage connecting the Ken and Betwa rivers in Uttar Pradesh and
Madhya Pradesh; the Damanganga and Pinjal rivers involving water from
Gujarat and Maharashtra.
Ken-Betwa link
The controversial Ken-Betwa link that will partially submerge the Panna Tiger
sanctuary, is yet to be cleared by the National Wild Life Board and discussions
are on between the Water Resources Ministry and the Ministry of Environment
and Forests to mitigate the potential loss of forests.
The RBI, in line with its efforts to curb illegal and unauthorised pooling of
funds by unscrupulous firms, has launched a website Sachet.
The step aims at helping people get information about legalised entities, who
are allowed to collect public deposits/ provide investment management services,
entities barred from doing so, besides receiving on-the-ground information on
illegal entities.
The portal will facilitate filing, tracking of complaints, besides providing
information about whether any particular entity is registered with any regulator
or is permitted to accept deposits.
The website would also help enhance coordination among regulators and state
government agencies and thus be useful in curbing instances of unauthorised
acceptance of deposits by unscrupulous entities.
Foreign investment in other financial services that are not regulated by any
regulators or by a government agency can be made via the approval route,
according to the statement.
R & D project
The Cabinet Committee on Economic Affairs approved a one-time grant of
Rs.900 crores spread over three years for an R&D project for the development
of Advanced Ultra Super Critical (AUSC) technology for thermal power plants.
The estimated cost of the project is Rs.1,554 crore, according to the
government.
Factories Act
The Cabinet gave its ex-post facto approval for the amendment of Section 64
and section 65 and the consequential amendment in Section 115 of the Factories
Act, 1948 by the introduction of the Factories (Amendment) Bill, 2016 in
Parliament.
India, Croatia
The other decisions taken by the Cabinet include approval for the signing and
ratification of an agreement between India and Croatia on economic
cooperation.
India and Croatia had earlier signed an agreement on trade and economic
cooperation in September 1994 with an aim to promote and develop bilateral
trade and economic relations. Signing of the new agreement between India and
Croatia would be a step in continuity as the existing agreement expired in
November 2009.
The average bilateral trade growth was 17.44 per cent during the last three years
and stood at $205.04 million in 2014-15.
NBFCs:
Non-bank financial companies (NBFCs) are financial institutions that provide
banking services without meeting the legal definition of a bank, i.e. one that
does not hold a banking license. These institutions typically are restricted from
taking deposits from the public depending on the jurisdiction. Nonetheless,
operations of these institutions are often still covered under a countrys banking
regulations.
The Reserve Bank of India is entrusted with the responsibility of regulating and
supervising the Non-Banking Financial Companies by virtue of powers vested
under Reserve Bank of India Act, 1934.
As per the current norms, SEZs are tax and duty-free enclaves and are deemed
to be foreign territory for purposes of taxes, duties and trade. Parliament
recently passed the amended GST Bill.
The proposed GST regime will subsume central & state level taxes, and the new
model will include a Central GST, IGST for inter-state supplies and SGST for
intra-State supplies.
Concerns:
Currently, many tax and duty incentives have been offered to SEZ units and
developers in the SEZ policy to help them attract investments, and in turn,
generate employment and boost exports. However, the proposed GST regime
does not provide clarity on these SEZ-related incentives.
Way ahead:
Commerce Ministry has asked the Finance Ministry to continue incentives that
are currently provided to the SEZs.
As per the current norms, SEZs are tax and duty-free enclaves and are deemed
to be foreign territory for purposes of taxes, duties and trade. Other exemptions
provided include:
Duty-free import and duty-free domestic procurement of goods for development,
operation and maintenance of SEZ units.
No Central Sales Tax (CST), service tax and State sales tax.
Exemption from customs/excise duties for development of SEZs for authorised
operations approved by the SEZ Board of Approval.
No excise duty on raw material procurement by SEZs from Domestic Tariff Area
(or DTA, which is the area outside the SEZs but within India) as such procurement
is treated as exports from DTA to SEZ.
What is a Special Economic Zone (SEZ)?
SEZ is a geographical region that has economic laws different from a countrys
typical economic laws. Usually the goal is to increase foreign investments.
Who can set up SEZs? Can foreign companies set up SEZs?
Any private/public/joint sector or state government or its agencies can set up an
SEZ.
What is the role of state governments in establishing SEZs?
State governments will have a very important role to play in the establishment
of SEZs. Representative of the state government, who is a member of the inter-
ministerial committee on private SEZ, is consulted while considering the
proposal. Before recommending any proposals to the ministry of commerce and
industry (department of commerce), the states must satisfy themselves that they
are in a position to supply basic inputs like water, electricity, etc.
The main objectives of the SEZ Act are:
Generation of additional economic activity.
Promotion of exports of goods and services.
Promotion of investment from domestic and foreign sources.
Creation of employment opportunities.
Development of infrastructure facilities.
BRICS will discuss sustainable and inclusive solutions'
The 8th BRICS summit scheduled to be held in Goa in October this year will be
discussing "sustainable and inclusive solutions to the global problems. With the
New Development Bank (NDB), BRICS will have funds to finance
infrastructure projects at the BRICS countries or in other emerging third world
countries. The BRICS gave powerful impetus to the identification and
development of specific bilateral and joint projects in strategic sectors such as
agriculture, renewable energy, science and technology.
India and World
The US had been pushing India to sign this pact along with the
Communications Interoperability and Security Memorandum of Agreement
(CISMOA) and Basic Exchange and Cooperation Agreement for Geo-spatial
Cooperation (BECA) for deeper defence and strategic ties.
The US is now Indias largest defence partner with sales reaching over $13
billion.
The US and India inked a defence deal in July worth $1.1 billion under which
India will be procuring four additional Poseidon-8I long-range surveillance and
anti-submarine warfare aircraft over and above the eight that Indian Navy
already possesses.
LEMOA in Detail
LEMOA or Logistics Exchange Memorandum of Agreement is another name
for Logistics Support Agreement (LSA), an agreement the US has with many of
its allies. But this has been especially tailored for India, following negotiations
for over a decade.
LEMOA allows each military to avail logistics support facilities fuel, spare
parts, mechanics, etc. of the other while on joint training, Humanitarian
Assistance and Disaster Relief (HADR), and port calls. The agreement lays out
the procedure for billing for these facilities as part of a larger accounting
transaction, and details are contained in the clarifying protocols annexed to
LEMOA.
Under LEMOA, while Indian logistics support will be available to the US
military, Indian armed forces will benefit from access to a large number of US
military bases globally, particularly while undertaking HADR missions in a
diaspora crisis. It will allow India to respond promptly to emerging situations or
humanitarian crises, and will expand Indian militarys operational environment
globally.
Major Defence partner
The US has recognised India as a Major Defence Partner (MDP). This follows a
long-standing Indian demand to provide predictability and transparency in the
US system that approves transfer of military equipment and technology. MDP is
not an established category, and this nomenclature has been especially created
for India, because a legislative amendment to bring a change in Indias status
would have been a long-drawn and difficult process.
White Shipping Agreement
The countries signed the White Shipping Agreement (WSA) which enhances
their maritime domain awareness and fits in with the Maritime Security
Dialogue, the only 2+2 dialogue that India has with any country.
The WSA establishes an information network protocol that allows the two
navies to exchange information about ships in their waters. Ships are usually
classified into white (commercial ships), grey (military vessels), and black
(illegal vessels). After signing the WSA, the two sides will be able to exchange
information about white ships, which may not be known to the other side. The
Navys Information Management and Analysis Centre (IMAC) at Gurgaon will
be the nodal centre for WSA.
The Kings directives comes amid increasing complaints by workers that they
have not been paid their salaries for months.
India and the Philippines as well as their communities in the kingdom have
rallied behind their compatriots at Saudi Oger by providing them food.
Currently, a total of 7,700 affected Indian workers are living in 20 camps in the
country and the embassy is in the process of collecting information about others
residing in different parts of Saudi Arabia.
Organised under the auspices of Japan Society for the Promotion of Science
(JSPS) through Indian JSPS Alumni Association as part of the centenary
celebrations of the university, the two-day conference is being attended by
experts from Indian and Japan in various fields of science and technology.
Scientists and research scholars from various Universities in Japan and India are
attending the two-day conference, which will feature 12 technical sessions, two
key note address, 13 plenary lectures, six invited talks, 32 oral presentations and
400 poster presentations.
Miscellaneous
Persons in News
New CEOs appointed for United Bank, Bank of Maharashtra
United Bank of India has appointed Pawan Kumar Bajaj as Managing Director
and Chief Executive Officer (CEO). He is currently executive director at Indian
Overseas Bank, has been appointed to the post up to September 20, 2018. The
Centre has also appointed Ravindra Prabhakar Marathe as Managing Director
and CEO of Bank of Maharashtra.
Vijay Rupani has sworn in as the 16th Chief Minister of Gujarat after
Anandiben Patel who resigned recently. Gujarat's first woman Chief Minister,
Aandiben Patel resigned following political pressure over escalating Patidar
reservation agitation ahead of the Assembly polls scheduled later next year.
Through his performance, Rahman will pay homage to Subbulakshmi, the first
musician ever to be awarded Indias highest civilian honour Bharat Ratna.
Subbulakshmi was invited by the then UN Secretary General late U. Thant and
the then Chef de Cabinet late C.V. Narasimhan to perform at the world bodys
headquarters in 1966.
The NSW Governments Green Globe Awards are the leading environmental
recognition program, celebrating excellence, leadership and innovation in
sustainability.
The Green Globe Awards celebrate the work of organisations and individuals
who are leading the way in making NSW a place where people and nature
thrive.
Places in News
The Mental Health Care Bill, 2013, says that any person who attempts suicide
shall be presumed, unless proved otherwise, to have mental illness and shall not
be liable to punishment under Section 309 of the Indian Penal Code. Now, a
person who attempts suicide is charged under the section.
Progressive legislation
This is a historic and progressive Bill. It has been a long standing effort. It is
patient-centric and focuses on how more facilities and support could be
provided to the patients. Almost 6-7 per cent of the countrys population had
some kind of mental illnesses, while 1-2 per cent had acute mental disease.
Special provisions
Members across the political spectrum, however, sought urgent steps to address
the lack of infrastructure and a shortage of psychiatrists in the country.
The Bill also provides for the protection and promotion of the rights of persons
with mental illness during the delivery of healthcare in institutions and in the
community.
The Bill was passed unanimously through voice vote. There were 134 official
amendments to the Bill.
Dedicated funds Rs 4.3 lakhs per district, have been allocated to states for the
programme, which is in addition to the funds approved under National Health
Missions annual project implementation plans.
Only experts can verify whether the languages satisfy the norms set for
according the classical status, and after been satisfied, they have recommended
for declaration of the languages in consideration to be classical.
The court could not be converted into a forum for debate on such matters. If the
petitioner still felt that the particulars furnished by the respective States would
not satisfy the criteria, the Bench said: It is open to them to approach the
authorities.
In 2004, the Government of India declared that languages that met certain
requirements could be accorded the status of a Classical Language in India.
Languages so far declared to be Classical are Tamil, Sanskrit, Kannada, Telugu,
Malayalam, and Odia.
First, the language has high antiquity, of about 1500 to 2000 years, for its
literature.
Second, it has a body of ancient literature meeting the core attributes of
classicism and is held as a valuable heritage bequeathed to humanity.
Third, the literary tradition is original and not borrowed from another
speech community.
Fourth, the classical language and literature being distinct from modern,
there may also be discontinuity between the classical language and later
forms or offshoots.
Water disputes tribunal set up under the Act is originally meant to complete its
assigned work in three years. If
the work is not completed, the
government can extend its tenure
by a year and further by a second
year.
The water sharing issue reached a flashpoint in 2002 when the Karnataka
decided to implement a long pending drinking water project by building a canal
across two tributaries of the Mahadayi Kalasa and Banduri.
The Kalasa-Banduri project aimed to divert 7.56 TMC of water from the
Mahadayi to the Malaprabha river in Karnataka to address the drinking water
needs in three parched north Karnataka districts of Belagavi, Dharwad and
Gadag.
Goa approached the centre in 2002 with a
request for a Mahadayi Water Dispute tribunal
to assess the available utilisable water
resources in the basin at various points and
allocation of this water to the three basin states
keeping in view priority of the use of water.
The Parrikar government argued that the Kalasa
Banduri project would cause immense
ecological damage in Goa since the river
supports the fragile eco system in parts of the
Western Ghats located in the territory of Goa.
The final clearance for the Kalasa Banduri project was put on hold by the NDA
government following the objections from Goa.
Since the constitution of the tribunal, Karnataka has sought interim orders to
continue with the construction of the Kalasa Banduri project to utilize 7.56
TMC of water for drinking purposes.
With the Mahadayi Water Disputes Tribunal in an interim order on July 27
rejecting Karnatakas demand for 7.56 TMC of water, protests have once again
broken out in the state and a day long bandh was observed on July 30.
The Mahadayi tribunal has only issued interim orders and that these orders are
not likely to have a bearing on the final verdict on the sharing of the waters of
the Mahadayi since much of the technical issues are yet to be assessed in full by
the tribunal.
The performance audit report of the Pradhan Mantri Gram Sadak Yojana
(PMGSY), tabled in Parliament has highlighted several irregularities, ranging
from flouting of planning procedures, poor quality control, diversion of funds,
extension of undue benefits to contractors, showing road connectivity where
there is none, not providing roads to eligible habitations, and pathetic
maintenance of roads. The PMGSY, a Centrally- sponsored scheme to build
rural road connectivity, was launched in December 2000.
According to the report, 19 States, including Bihar, Uttar Pradesh, Gujarat and
Rajasthan, showed unconnected habitations as connected, while excluding
eligible habitations from road projects.
Report Highlights-
In 26 States, 4,496 works were delayed, with the delay period ranging from one
month to 10 years. The CAG found nine States, including U.P., Karnakata and
Gujarat, guilty of building roads to connect habitations that were already
connected, with 31 habitations getting multiple connectivity at a cost of Rs.
29.49 crore.
In the case of seven States, which again includes Bihar and Gujarat apart from
Tamil Nadu and West Bengal, 73 road works, executed at Rs. 120 crore, were
shown as completed though they did not provide complete connectivity to
targeted areas.
Five States, including Tamil Nadu, Kerala, and Uttarakhand, diverted funds to
inadmissible items such as payment of salaries and purchase or construction
of buildings.
About PMGSY:
Modi launches theme song '70 Saal Azadi, Yaad Karo Kurbani'
Yaad Karo Kurbani (remember the sacrifices) is the theme of the Narendra
Modi government's patriotism-flavoured celebration of the upcoming 70th
Independence Day on August 15, which will see ministers visiting historic sites
of the Indian freedom struggle and efforts to educate the country's youngsters
about its heroes. The celebration is expected to be launched by the prime
minister himself ahead of August 15 at a special event and may involve a
commemoration of the anniversary of the Quit India movement on August 8 as
well.
The project is about making available knowledge in and knowledge about all
languages in the country in multimedia formats (text, audio, video and images)
through an online portal.
Krishna Pushkaram is a 12-day festival that comes once in every 12 years, and
devotees take a holy dip in the river across Andhra Pradesh. The Pushkaram is
observed for a period of 12 days from the time of entry of Jupiter into Virgo
(Kanya rasi).
Telangana signs MoU with ISRO for water resources info system
Command area of each main canal, minor and field channel (pipe) with survey
numbers, among others, would be captured on Bhuvan.
Govt pledges 'foot & mouth disease' free India, extends scheme to
16 more states
Seeking to end Foot & Mouth Disease (FMD) one of the most devastating
contagious viral animal diseases affecting all susceptible cloven-footed animals
-- from India, the agriculture ministry has conceived a 'FMD Mukta Bharat'
(FMD Free India) programme to cover all the states which have not yet been
covered under the six monthly vaccination schemes.
Sixteen states and one Union Territory (UT) are yet to be covered under
intensive FMD vaccination at six monthly intervals.
It has now been decided to take up FMD vaccination in these states and UT
under Rashtriya Krishi Vikas Yojana (RKVY) during 2016-17.
In order to prevent the economic losses arising due to Foot and Mouth Disease,
a location specific programme called 'Foot and Mouth Disease Control
Programme (FMD-CP)' is under implementation since 10th Plan Period.
Gradually, the FMD-CP was expanded during 11th & 12th Plan Period. As of
now, it covers 351 districts in 13 states and 6 UTs - Andhra Pradesh, Telangana,
Maharashtra, Kerala, Tamil Nadu, Gujarat, Punjab, Haryana, Uttar Pradesh,
Karnataka, Goa, Rajasthan, Bihar, Puducherry, Delhi, Andaman & Nicobar,
Dadar & Nagar Haveli, Daman & Diu and Lakshadweep.
Total cases of FMD outbreaks in India have been reduced from 879 in 2012 to
109 in 2015.
Details
According to research emissions from ships along the corridor (5-6 degrees
North latitude) has directly heated the lower troposphere by two-and-half times
compared to surrounding areas and also created a temperature gradient of
around 0.1K/day on either side of the shipping route. The troposphere is the
lowest region of the atmosphere.
Compared with the surrounding regions, the concentration of NO2was five times
higher along the shipping corridor.
The NO2 concentration along the shipping route over Bay of Bengal has been
increasing at a steady rate. There is a five to six per cent increase in shipping
trade along the corridor per year.
Since NO2 can absorb solar radiation, the increased levels of this gas along the
shipping route led to more heating of the atmosphere. In addition to gaseous
emissions, ship exhaust also contains particulate matter such as black carbon.
Along the shipping route, the black carbon concentration was elevated by a
factor of four compared to surrounding regions; the lower troposphere solar
heating rate was elevated by 0.1 degree C in cloud-free conditions.
The heating of the lower troposphere can have huge implications in terms of
temperature profile and cloud formation, to name a few factors.
The effects of CCN seen along the corridor may have significant impact on the
monsoon activity over southern Bay of Bengal and implications for climate
change mitigation strategies.
Should the Indian Standard Time (IST) be advanced? Stating that such a change
is the need of the hour because advancing the IST by half an hour will save
energy by upto three billion units every year.
The time zone for India is based on 82.5 E longitude, passing through
Mirzapur, U.P. This makes us five hours and 30 minutes ahead of the
Coordinated Universal Time (UTC), based on the prime meridian.
This is defined as the Indian Standard Time (IST), and has been our official
time since independence in 1947.
Changing the IST to six hours ahead of UTC, instead of the present five-and-a-
half hours would shift the longitude on which IST is based from 82.5 E to 90
E longitude at Bengal-Assam border.
Though the savings may appear insignificant considering the total energy
consumption of the country, the energy demand in the evenings due to domestic
lighting will be reduced by about 16 per cent.
From West to East, India spans from 68 7' E to 97 25' E of the 0 longitude or
the prime meridian.
A spread of more than 29 implies almost two hours time difference in sunrises
and sunsets between east and west part of the country. However, it is essential
for a country to follow a standardised time so that offices, transport systems and
communication systems can function smoothly.
The current IST (UTC+5:30hrs) means that people in northeastern states have to
work late into the dark, even though sun rises and sets early in their region.
What is Longitude?
Longitude is nothing but the angular
distance that gives us the idea about the
east west position of a place on Earth.
Longitudes can be defined as the vertical
lines that join the North Pole & the South
Pole.
Unit of its measurement is in degrees &
minutes.
Any data on longitude gives us the idea about the distance of that place in
reference to the Greenwich Meridian. Greenwich Meridian is considered as the
central Longitude (0/Zero Degree) & it passes through Greenwich, London.
Some basic concepts
One must first understand that time (on clock) is not same everywhere on earth.
For e.g. it may be morning for India & it may be night for America for a given
point of time.
Why Does this happen? This happen because of the Sun. Earth moves from
west to east. Because of that not all the parts of Earth receives sunlight. Hence,
we can see that Sun rises in the East & sets in the West.
Half part of the earth remains in dark & the other half in light for a given point
of time.
What is a Time Zone?
Earth has been divided into different time zones.
A time zone represents a geographic area. All the clocks in a given time zone
have the same time being shown. That same time is often called as
STANDARD TIME.
Why do we have time zones?
Many places around the world set their time according to the time of sun rise &
sun set.
But at different places, sun rises & sets at different time. Hence, it was
necessary to have common time at least for some part.
So, we created time zone for different regions.
How many Time Zones are there on Earth?
In total, earth has 24 time zones. (Note: That means, each time zone is 15
degrees of longitude wide. Total longitudes make an angle of 360 degree. So
360/15 = 24 time zones)
But there are also time zones like UTC+5.30. Why not use UTC+5 instead?
Why to use such a confusing term?
Such time offset values which are having a fractional part with them are
called as non-standard time zones.
But due to the massive width of our country, India actually lies in two time
zones. Hence, for convenience, we have adopted the standard time as
UTC+5.30.
Each country has the right to decide its own time zone. Generally it is decided
as per the convenience and desires of local population.
Does a country have more than one Time zone? Why?
Yes. Many countries like USA & Russia have more than one time zone.
It is done because these countries are so much big in terms of the width that
having one common time zone will not work for them.
They need more than one time zone for the administrative matters.
But countries like India only have one common time zone.
What is the position of India in terms of the time zone?
It is very clear from the above figure of Time Zones, that India clearly is present
in two time zones.
India is present in time zone UTC+5 & UTC+6.
But India has adopted UTC+5.30.
MoU for joint development of Deep Brain Stimulator
Bhabha Atomic Research Centre and Sree Chitra Tirunal Institute for Medical
Sciences & Technology (SCTIMST), Thiruvananthapuram have agreed to join
hands to develop Deep Brain Stimulator (DBS).
How it works?
DBS involves implanting electrodes within certain areas of brain and the
regular electrical pulses generated by a pacemaker-like device placed
under the skin in upper chest regulates the abnormal impulses of the
brain.
DBS is used in typical neurological conditions of Essential tremor,
Parkinson's disease and Dystonia.
The DBS consists of implanted pulse generator, electrodes and extension
cables which interface with external Programmer module and wireless
battery charger.
These devices are currently being imported, limiting its wider usage due to
the high cost. The planned joint development is targeted to provide an
affordable alternative.
The S-400 'Triumph' air defense system has been sent to the peninsula,
following a pledge to deploy it to the region last month. S-400 'Triumph' air
defence system has been sent to the peninsula, Kremlin said two Russians were
killed in Crimea but the claims was rejected by Ukrainian President Petro
Poroshenko.
The air defence system can track some 300 targets and shoot down around three
dozen simultaneously over a range of more than 150 miles. The deployment of
the S-400 to Crimea comes as NATO rolls out the biggest military build-up in
eastern Europe since the end of the Cold War.